UNIVERSITY OF WISCONSIN River Falls

Financial Aid Student Records

NOTE: Retention periods for Financial Aid Student Records are based mainly on recommendations and requirements founds in 34 CFR 668.24 and 674.19, the Federal Student Aid Handbook, and recommendations of the American Association of Collegiate Registrars and Admission Officers AACRAO.

The records retention time periods provided below the event signaling the beginning of the retention clock is the end of the award year, which is June 30 at all UW campuses.

UWSFA001
GENERAL STUDENT RECORDS - FINANCIAL AID

The general student records regarding financial aid span a variety of documents which are maintained in paper form or as scanned documents in document imaging systems. These records may also be referred to as "financial aid folders". Documents are sent by students to apply for and verify need for financial aid such as loans, work study, and grants. Records that may be kept with this series include but are not limited to Student Aid Report (SAR), alien registration forms, proof of citizenship, low income statement, student academic progress letters, verification of dependent status, veteran benefit statements, veterans discharge papers, student W2s, parental tax returns, student tax returns, dislocated worker documentation, consortium agreement.These documents are frequently filed by student name in a paper file. The records and documents are used to verify and document the student status which is asserted in the Free Application for Federal Student Aid (FAFSA). Information on the FAFSA is also forwarded to the Wisconsin Higher Education Aid Board (HEAB) (if the student indicates Wisconsin as thestudent's state of residence). This information is used in calculating eligibility for state aid,federal aid and school based aid. A match to the federal department of education database andfrom HEAB then sets in motion the transfer of funds and payments for tuition, housing, meals,etc.

Retention Time Period
Original: EVT + 4 years EVENT=End of the Award Year in which the Student Last Attended
Disposition: Destroy Confidential
Copies: When no longer needed for administrative or quality control purposes destroy confidentially
Pll: Yes
Confidential: Yes

UWSFA01A GENERAL STUDENT FINANCIAL AID RECORDS - FOR STUDENT WITHOUT LOANS
This record series is for those Student Financial Aid Records in which the Student was not eligible or did not accept the loan. 

Retention Time Period
Original: EVT + 3 Years. EVENT=Date of application.
Disposition: Destroy Confidential
Copies: When no longer needed for administrative or quality control purposes destroy confidentially
Pll: Yes
Confidential: Yes

UWSFA002 Student Information System (SIS) Database Records
Financial aid records are maintained within the Student Information System (SIS). To apply for federal financial aid a student must submit a Free Application for Federal Student Aid (FAFSA)to the Department of Education. This information is compiled, formatted, and transmit ted electronically to the financial aid offices and the Wisconsin Higher Education Board. The data is referred to as the Institutional Student Information Record (ISIR). A financial aid office then imports that ISIR data directly into the SIS. The ISIR data along with other pieces of information contained in the SIS is used to determine a student's financial need. Once the need is determined the student is sent an award notification. A student view of this information indicates the name of the university, the award year, type of financial aid for which the student eligible, and provides a chance for the student to accept or turn down the aid. Once the offered aid has been accepted, the Bursar's office can apply that aid to the students account at theap propriate time. Other data records in the SIS system related to the student's academic program, grades, and classes are kept permanently and are necessary for the Registrar's purposes and production of transcripts.

Retention Time Period
Original: EVT + 4 Years EVENT=End of the Award Year in which the Student Last Attended
Disposition: Destroy Confidential
Copies: When no longer needed for administrative or quality control purposes destroy confidentially
Pll: Yes
Confidential: Yes